Loan officers evaluate and authorize the approval of business, real estate, or credit loans. They are specialists in evaluating the financial status of a loan applicant. Duties include updating account records and reviewing loan files. They work for commercial banks, mortgage companies, or credit unions.
Loan Officer Job Description
We are searching for an experienced and detail-oriented loan officer to join our growing institution. In this position, you will act as a liaison between applicants and our financial institution, helping qualified applicants obtain loans and set up payment plans. Your duties will include meeting with applicants, preparing loan proposals, and examining active loans.
The ideal candidate will have experience managing different types of loans including home loans, business loans, and individual loans. To succeed in this role, you should demonstrate excellent communication and interpersonal skills.
Duties And Responsibilities:
The role of the Credit Officer (CO) as an Intermediary (Agent or go-between) between the Centre and the member is very important and as such should be mindful of their conduct (behavior/relationship) within and outside the office in dealing with the member of the groups.
- It is the duty of the CO to ensure mobilization and registration of the targeted person/member (engaged in IGA) as members of the
- The CO must conduct a pre-loan training for every member at the entry point and subsequent entry to a next loan circle not leaving their duties and responsibilities to the leader/secretary.
- The CO must visit all groups registered per day
- Planning and preparation of members for loan disbursement must be done at the appropriate time by the CO (filling the loan form, attending to member’s Guarantor, submission of loan form to Branch Manager a day before disbursement).
- It is the duty and responsibility of the CO to ensure timely and accurate Record Keeping of all transactions in the appropriate book.
- The CO must ensure 100% recovery of all loan disbursed.
- All field collections must be deposited at the branch bank account and the slip submitted to the BM.
- The documents/books used by the CO must be neatly and properly kept after each day
- CO’s must go for loan drive with the other team members when default
- It is the responsibility of the CO to carry out any other duty assigned by the BM